Tata Steel reported a consolidated net profit of Rs 2,965 crore in the March-ended quarter versus Rs 1,201 crore in the year ago period, a 147% YoY growth.

The metal major posted a revenue uptick of 13% to Rs 63,270 crore in Q4FY26 versus Rs 56,218 crore posted in the corresponding quarter of the previous financial year.

While the profit after tax (PAT) was lower than Street’s estimates of Rs 3,065 crore, topline beat estimates of Rs 62,440 crore.

The company recommended a dividend of Rs 4 per equity share for the financial year 2025-26 which will be paid subject to shareholders’ approval at the Annual General Meeting (AGM) scheduled on July 2, 2026. It will be paid on and from July 6, 2026, the company’s filing to the exchanges said.

The PAT grew 9% sequentially versus 2,730 crore in Q3FY26 while revenue increased 11% from Rs 57,002 crore posted in the October-December quarter of FY26.

Company’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) stood at Rs 9,953 crore in Q4FY26 versus Rs 6,762 crore n Q4FY25, recording a 47% growth.
The company ended the year with a bang, reporting a PAT of Rs 10,886 crore, which more than trebled from Rs 3,174 crore in the year ago. The turnover in the same period stood at Rs 2.32 lakh crore compared to Rs 2.18 lakh crore, posting a 6.4% increase.

Segment revenue

India revenues were at Rs 38,654 crores in Q4 and EBITDA was Rs 9,841 crores, which translates to a margin of 25%. Crude steel production was up 14% YoY to 6.22 million tons and led to ‘best ever quarterly’ deliveries of 6.19 million tons. For FY26, it stood at Rs 1.40 lakh crores and EBITDA was Rs 34,272 crores, which translates to an EBITDA margin of 24%. EBITDA improved by 17% YoY. Performance was aided by ‘best ever’ crude steel production of 23.4 million tons and deliveries of 22.5 million tons.

Netherlands revenues were €1,605 million and EBITDA was €58 million. Liquid steel production was 1.63 million tons and deliveries were 1.70 million tons. For FY26, its stood at €6,028 million and EBITDA was €267 million. EBITDA had almost tripled on YoY basis.

UK revenues were £470 million and EBITDA loss stood at £48 million. Deliveries stood at 0.52 million tons and were impacted by subdued demand dynamics. UK revenues were £1,978 million and EBITDA loss almost halved to £217 million.

Capex

The company has spent Rs 3,655 crores on capital expenditure during the quarter and Rs 14,026 crores for the full year.

Net debt declined by Rs 2,285 crores YoY to Rs 80,144 crores.

Management commentary

T. V. Narendran said FY2026 was marked by heightened global economic uncertainty and tariff-led trade disruptions, but Tata Steel continued to deliver steady operational performance through cost optimisation and disciplined execution. He highlighted that Tata Steel India achieved its highest-ever deliveries of around 22.5 million tonnes, supported by growth in downstream businesses such as tubes, tinplate, wires and branded products.

Narendran added that the company strengthened its position in the automotive segment through rapid customer approvals at Kalinganagar and expanded the reach of Tata Tiscon across nearly all districts in India. He also noted strong growth in the company’s digital commerce platforms and engineering segment volumes, alongside continued investments in expansion projects including the new electric arc furnace at Ludhiana and the proposed NINL expansion.

On the overseas business, he said the UK market could benefit from revised import quotas, while the Netherlands operations continue to face regulatory challenges despite improving pricing conditions in Europe. Narendran further cautioned that geopolitical developments in West Asia have started impacting supply chains and input costs, with the pressures expected to continue into FY2027, prompting the company to undertake calibrated mitigation measures.

NEW YORK — SolarEdge Technologies shares skyrocketed more than 13 percent Thursday, trading at $56.84 midday as investors cheered the company’s better-than-expected first-quarter results and raised guidance amid signs of recovery in the global solar energy market.

The Israeli-American company, a leading provider of solar power optimizers and inverters, reported adjusted earnings of 45 cents per share, easily topping Wall Street expectations of 28 cents. Revenue reached $312 million, beating forecasts and marking a significant improvement from the challenging conditions that weighed on the stock throughout much of 2025.

SolarEdge CEO Zvi Lando highlighted improving demand in key European and U.S. markets, noting that inventory levels have normalized and new residential and commercial projects are accelerating. “We are seeing clear green shoots across our major territories,” Lando said on the earnings call. “The combination of lower interest rates, policy support and technological advancements is driving renewed momentum in solar adoption.”

The strong report triggered a wave of analyst upgrades and price target increases. Several major firms raised their targets on SolarEdge, with some citing the company’s improved margin profile and leadership position in next-generation inverter technology. The stock’s surge pushed its market capitalization above $3.3 billion, recovering some of the ground lost during last year’s sector-wide downturn.

Market Recovery Boosts Renewable Stocks

SolarEdge’s rally comes as broader renewable energy stocks show signs of stabilization. Falling Treasury yields have eased financing costs for solar projects, while new incentives under updated U.S. energy policies have improved project economics. European markets, which had slowed dramatically in 2025 due to high energy prices and supply chain issues, are also showing renewed strength.

Industry analysts note that SolarEdge’s performance may signal a broader turnaround for the solar sector after a difficult period of oversupply and margin compression. The company’s focus on high-efficiency optimizers — which maximize energy production from individual panels — continues to differentiate it from pure inverter competitors.

“We believe SolarEdge is well positioned to capture market share as demand rebounds,” wrote JPMorgan analysts in a note to clients Thursday. “The combination of new product launches and operational improvements should drive sustainable margin expansion through 2027.”

Challenges and Risks Remain

Despite the positive momentum, SolarEdge faces ongoing challenges. The company still operates in a highly competitive environment, with Chinese manufacturers exerting pricing pressure across the supply chain. Trade tensions and potential tariffs on imported components could also affect costs in coming quarters.

Supply chain normalization has helped, but any resurgence of geopolitical risks in key manufacturing regions remains a concern. SolarEdge has been diversifying its production footprint, with new facilities in the United States and Europe helping to mitigate risks, though these moves come with higher initial costs.

Analysts also caution that the stock’s valuation, while more reasonable after last year’s decline, still incorporates optimistic growth assumptions. Any slowdown in global solar installations or delay in major policy implementations could pressure results.

Company Background and Strategic Shift

Founded in 2006, SolarEdge revolutionized the solar industry with its DC optimized inverter systems that increase energy yield and provide module-level monitoring. The technology has become standard in many residential and commercial installations worldwide.

After experiencing explosive growth during the early 2020s renewable boom, the company faced headwinds in 2024 and 2025 as high interest rates slowed project financing and European demand softened. SolarEdge responded by cutting costs, streamlining operations and investing in new technologies, including integrated energy storage solutions and smart home energy management systems.

The company’s latest results suggest these efforts are beginning to bear fruit. Management raised full-year guidance, projecting revenue between $1.45 billion and $1.55 billion with improving gross margins. The upbeat outlook helped fuel Thursday’s sharp rally as investors priced in a faster recovery.

Broader Sector Implications

SolarEdge’s performance is being watched closely by competitors and partners across the renewable energy ecosystem. Companies like Enphase Energy, First Solar and SunPower have seen related moves in their shares, reflecting the interconnected nature of the solar supply chain.

The rally also highlights growing investor confidence in the long-term transition toward renewable energy despite short-term volatility. With global governments maintaining ambitious climate targets and corporate demand for clean energy increasing, analysts expect the sector to deliver strong growth over the coming decade.

Institutional investors appear to be returning to solar names after a period of caution. Several large funds increased positions in SolarEdge following the earnings report, according to regulatory filings.

What Investors Should Watch Next

SolarEdge is scheduled to host an investor day in September where management will provide more details on its strategic roadmap, including new product launches and expansion plans. The event could serve as a catalyst for further movement in the stock.

Near-term focus will remain on quarterly execution and any updates regarding European demand trends. Macro factors, particularly interest rate decisions by the Federal Reserve and European Central Bank, will also influence sentiment toward renewable stocks.

For long-term investors, SolarEdge offers exposure to both the core solar inverter market and adjacent growth areas such as energy storage and smart grids. While volatility remains a feature of the sector, the company’s technology leadership and improving financial position make it an attractive play for those bullish on the energy transition.

Thursday’s surge demonstrates the market’s willingness to reward positive surprises in the renewable space. As SolarEdge continues executing on its turnaround plan, investors will be closely watching whether the company can sustain this momentum through the remainder of 2026 and into 2027.

The stock closed the regular session strongly, with continued buying interest in after-hours trading. Whether this marks the beginning of a sustained recovery or a temporary bounce will depend on SolarEdge’s ability to deliver consistent results in a recovering but still competitive market.

NEW YORK — The S&P 500 fell sharply Thursday, closing at 7,426.99 as a broad tech sell-off combined with hotter-than-expected inflation data and persistent geopolitical tensions from the Middle East conflict triggered a cautious retreat across Wall Street.

The benchmark index dropped 74.25 points, or 0.99 percent, in a session marked by heavy profit-taking in artificial intelligence-related names and renewed worries about the Federal Reserve’s path on interest rates. The Dow Jones Industrial Average declined more modestly, while the Nasdaq Composite posted the steepest losses among major indices as technology giants came under pressure.

Trading volume spiked as investors digested April inflation figures showing consumer prices rising 3.8 percent year-over-year — the highest reading since May 2023 — and producer prices jumping 6 percent. Oil prices remained elevated near $107 per barrel amid ongoing disruptions in the Strait of Hormuz, adding to inflationary concerns and reducing expectations for near-term rate cuts under the new Fed leadership.

Tech Sector Bears Brunt of Selling

Technology shares led the decline, with several mega-cap names giving back recent gains. Investors appeared to take profits after a strong run fueled by AI enthusiasm, while fresh worries about the sustainability of massive capital spending on artificial intelligence infrastructure added to the pressure. The sector’s heavy weighting in the S&P 500 amplified the index’s drop.

Energy stocks provided some offset as oil prices held firm, but broader market sentiment remained defensive. Financials traded mixed amid shifting rate expectations, while defensive sectors like consumer staples and utilities outperformed relatively.

Inflation and Geopolitics Fuel Uncertainty

The hotter inflation print reinforced concerns that the Federal Reserve may keep rates higher for longer. Traders now see fewer rate cuts priced in for the remainder of 2026, pressuring growth-oriented stocks sensitive to borrowing costs. The 10-year Treasury yield climbed above 4.48 percent, its highest level since July 2025, reflecting the shift in expectations.

Geopolitical risks continued to loom large. The ongoing U.S.-Iran conflict has kept energy prices elevated and created uncertainty around global supply chains. Analysts warn that prolonged disruption could further complicate the inflation picture and weigh on corporate margins.

Analyst Views on the Pullback

Market strategists described the move as a healthy correction within a broader uptrend rather than the start of a major downturn. “We’ve seen strong gains driven by AI optimism, so some consolidation was expected,” said one New York-based portfolio manager. “The inflation data simply provided a catalyst for profit-taking in the more extended parts of the market.”

Technical analysts noted the S&P 500 had been testing resistance levels near recent highs. Support sits around the 7,300 level, with further downside possible if inflation readings continue surprising to the upside. However, many remain constructive on the longer-term outlook, citing resilient corporate earnings and ongoing innovation in technology sectors.

Corporate Earnings Provide Mixed Signals

Earnings season has delivered mostly solid results, but guidance from some high-profile names has introduced caution. Companies exposed to consumer spending and discretionary sectors have highlighted margin pressures from higher input costs, while technology firms continue to emphasize long-term AI investments despite near-term volatility.

The divergence between sectors underscores a market in transition — rewarding companies with strong pricing power and durable growth stories while punishing those more exposed to cyclical or inflationary headwinds.

Investor Sentiment and Strategy Shifts

Retail and institutional investors alike have grown more tactical. Many have rotated toward defensive areas or increased cash holdings while monitoring upcoming economic data. The VIX, Wall Street’s fear gauge, ticked higher but remained below levels typically associated with major panic.

Longer-term investors view the pullback as a potential buying opportunity, particularly in quality names that have been caught in the broader sell-off. “Volatility creates entry points,” said one wealth manager. “The underlying trends — innovation, productivity gains from AI, and a resilient economy — remain intact.”

Global Markets Reflect Caution

International markets showed similar caution. European indices closed modestly lower, while Asian markets had a mixed session overnight. The U.S. dollar strengthened modestly as a safe-haven currency, and gold prices edged higher amid uncertainty.

Looking ahead, investors will focus on upcoming inflation readings, consumer confidence data, and further corporate earnings. Any signs of cooling in the labor market or easing price pressures could revive hopes for rate relief later in the year.

Broader Economic Picture

Despite the market volatility, the U.S. economy has shown resilience. Consumer spending remains steady, and corporate balance sheets are generally healthy. However, higher-for-longer interest rates, elevated energy costs, and geopolitical risks create a challenging backdrop that requires careful navigation by both policymakers and investors.

The S&P 500’s performance this year has been marked by periodic sharp moves, reflecting the tug-of-war between optimism around technological progress and concerns over macroeconomic headwinds. Thursday’s decline fits this pattern — a reminder that even in a fundamentally supportive environment, markets can experience meaningful corrections.

The index closed the session at 7,426.99. Whether this represents a short-term pause or the beginning of a deeper consolidation will depend on how incoming data and corporate results influence sentiment in the days ahead. For now, caution prevails as investors await clearer signals on the inflation trajectory and the Fed’s response.

The market’s reaction underscores the sensitivity of equities to inflation surprises and geopolitical developments. As summer approaches, participants will continue balancing growth expectations with risk management in an environment that remains full of both opportunity and uncertainty.

U.S. stocks retreated from artificial-intelligence-fueled record highs on ​Friday, as spiking crude prices ignited global inflation fears.

All three major U.S. stock indexes veered lower as a jump in benchmark Treasury yields, reflecting surging energy prices and concerns about long-term inflation, offered an attractive alternative to higher-risk equities.

“There’s a realization that the market had gotten way ahead of itself,” said Kenny Polcari, ‌chief market strategist ⁠at Slatestone Wealth ⁠in Jupiter, Florida. “It wasn’t paying enough attention to what the bond market and economic data is telling it. It was caught up in this momentum AI trade.” Crude ​prices surged after combative comments from U.S. President Donald Trump and Iran’s Foreign Minister Abbas Araqchi raised doubts as to whether their countries’ fragile truce ​would hold and dampened hopes that normal traffic through the crucial Strait of Hormuz would soon resume. Trump’s meeting with Chinese President Xi Jinping concluded with few tangible results to show for it, with Beijing offering no clear help toward resolving the U.S.-Iran conflict.

“It certainly was ​encouraging to see both countries engaging again at the highest level. Historically, these type ⁠of events bring ‌about headlines outlining various commitments,” said Matthew Keator, managing partner at the Keator Group, a wealth management firm ​in Lenox, Massachusetts. “This week’s ​meeting seemed like more of a reset in relations between the two countries and less short-term, quantifiable ⁠results.”

The yield on 10-year Treasury notes, an indicator of global borrowing costs, touched its ​highest level since May 2025, when markets were reeling from Trump’s “Liberation Day” tariff proclamation. Global bond ​yields also jumped on growing evidence of the Iran war’s widespread economic damage.

END OF POWELL ERA
Friday marks Jerome Powell’s last day as U.S. Federal Reserve chair, a position he has held through the pandemic, periods of inflation, and interest rate hiking and cutting cycles.Incoming Chair Kevin Warsh is saddled with the potential need for a rate hike if a protracted Iran war leads to sticky inflation.

“The weakness today is highlighting the concerns that the recent (inflation) numbers aren’t transient, and it’s hard to envision the new chair communicating anything other than ‌a neutral policy stance at best until we see some consistent, meaningful change in the data,” Keator added.

The odds of the Fed hiking interest rates by 25 basis points in December are approaching 40%, up from ​13.6% a week ​ago, according to CME Group’s FedWatch tool.

According ⁠to preliminary data, the S&P 500 lost 91.62 points, or 1.22%, to end at 7,409.62 points, while the Nasdaq Composite lost 412.61 points, or 1.53%, to 26,226.35. The Dow Jones Industrial Average fell 537.35 points, or 1.06%, to 49,531.70.

The Philadelphia SE Semiconductor Index was dragged lower ​by stocks that have benefited from the AI hyperscaler phenomenon.

Nvidia, AMD and Intel ended the session sharply lower. Microsoft rose following the disclosure of a new position in the company taken by Bill Ackman’s hedge fund Pershing Square. Dexcom jumped after the medical device maker’s announcement that it will appoint two independent directors and revamp a board committee in collaboration with activist investor Elliott Investment Management.

Ford slid, retreating from a near 21% surge over the last two sessions on optimism over the automaker’s energy storage business.

The Indian government has approved the proposal for the listing and disinvestment of Mahanadi Coalfields Limited (MCL), paving the way for the coal producer’s potential stock market debut through an initial public offering (IPO).

According to an official communication, the Department of Investment and Public Asset Management (DIPAM) and the Ministry of Coal had placed the proposal before the Alternative Mechanism (AM) after securing approvals from the boards of Coal India Limited (CIL) and MCL.

MCL, a wholly owned subsidiary of Coal India, is among India’s largest coal-producing companies with operations concentrated in Odisha. The listing would mark another major divestment initiative by the Centre as it seeks to deepen capital markets participation in state-run enterprises.

The AM has now cleared the proposal, allowing CIL to dilute its stake in MCL through an offer for sale (OFS) as part of the IPO and through additional tranches subsequently. The approval also allows MCL to raise fresh capital through issuance of equity shares during the IPO and later via follow-on public offers (FPOs), qualified institutional placements (QIPs) or other Sebi-approved routes.

The government said the disinvestment and fundraising exercises may be carried out either simultaneously or separately and could take place in multiple tranches. However, the total dilution under these mechanisms will be capped at reducing Coal India’s stake in MCL by up to 25%.

The proposed listing will remain subject to prevailing market conditions and completion of statutory and regulatory requirements.
One of Coal India’s subsidiaries, Central Mine Planning and Design Institute Ltd (CMPDI) was listed in March 2026 via an IPO route. Its IPO was a book built issue of Rs 1,841.45 crores and the issue is entirely an offer for sale of 10.71 crore shares. The public issue was launched at a price of Rs 172 per share. Its shares are currently trading at Rs 232.95 on the NSE.Meanwhile, Coal India shares ended at Rs 462.20, gaining by Rs 8.15 or 1.79% over the Thursday closing price.

(Disclaimer: The recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times.)